$2,000 Checks Coming In A Few Weeks: Who’s Eligible?

According to the report In the next two weeks, millions of Americans will receive checks ranging from $2,000 to $20,000.

A recent announcement by President Joe Biden stated that millions of borrowers would be entitled to student loan forgiveness.

Progressives and Democratic senators, including Senate Majority Leader Chuck Schumer, had repeatedly called for the cancellation of up to $50,000 in loans.

Last Monday, a federal appeals court tried to halt the Biden Administration's plan to offer thousands of dollars in student aid.

Anyone who has outstanding school debt and earns less than $125,000 in 2021 or 2020 is eligible for forgiveness.

Who Is Eligible?

People who attended college with the assistance of a Pell Grant are eligible for relief that can reach a maximum of $20,000.

The Department of Education says borrowers with federal student loans not held by ED cannot consolidate into Direct Loans for one-time debt reduction.

If you are eligible, you must take out an online application. You must submit basic information such as your name, phone number, and Social Security number.

The last day to submit an application for the forgiveness of federal student loans is the 31st of December 2023.

According to Education Data.org, there are approximately 43.4 million people living in the United States who are holding student loan debt.